So the raw speed of your SSD is not bad for a consumer grade SATA 2 device. I have one here:
root@tosh205:/# hdparm -ia /dev/sda
/dev/sda:
readahead = 256 (on)
Model=OCZ-VERTEX2, FwRev=1.35, SerialNo=OCZ-9290YAGQRH50XN20
Config={ Fixed }
RawCHS=16383/16/63, TrkSize=0, SectSize=0, ECCbytes=4
BuffType=unknown, BuffSize=unknown, MaxMultSect=16, MultSect=16
CurCHS=16383/16/63, CurSects=16514064, LBA=yes, LBAsects=78161328
IORDY=on/off, tPIO={min:120,w/IORDY:120}, tDMA={min:120,rec:120}
PIO modes: pio0 pio1 pio2 pio3 pio4
DMA modes: mdma0 mdma1 mdma2
UDMA modes: udma0 udma1 udma2 udma3 udma4 udma5 *udma6
AdvancedPM=no WriteCache=enabled
Drive conforms to: unknown: ATA/ATAPI-2,3,4,5,6,7
* signifies the current active mode
root@tosh205:/# hdparm -tT /dev/sda
/dev/sda:
Timing cached reads: 1166 MB in 2.00 seconds = 582.60 MB/sec
Timing buffered disk reads: 304 MB in 3.01 seconds = 100.85 MB/sec
Of more concern is the failure induced by smartctl -- that should not happen. That indicates a problem at the hardware/firmware level -- nothing to do with the OS, I believe. Not sure whether to suspect the BIOS or the SSD firmware, but something is not communicating correctly.
Are there firmware updates available for your BIOS or your SSD?